Veidekke ASA: Shares purchased by employees in 2017

Mon, Nov 20, 2017 08:45 CET

7 086 employees of Veidekke have received offers to purchase between 50 and 1 000 Veidekke shares each. The employees could choose between two alternatives: Option A with 30 % discount and cash payment and option B with 20 % discount and partial financing.

2 441 employees made use of the offer and subscribed a total of 1.42 million shares during the subscription period from 10 to 17 November. However, there was an oversubscription of 28 % and a reduction was done. After the reduction, the employees were permitted to purchase between 50 and 740 shares each, and a total of 1.10 million shares were allocated to the employees.

The purchasing prices were set at NOK 59.72 (option A) and NOK 68.26 (option B) after a 30 % and 20 % discount respectively on the market price during the subscription period. The shares are subject to a two-year lock-in period.

For years, Veidekke has worked to promote employee co-ownership in the company. This year interest has been considerable, and 2 441 purchasers represent 34% of those who received the offer. Corresponding figures for 2016 and 2015 were 34% and 33%, respectively.

The purchases of primary insiders, as well as new holdings, are attached to this report.